British Pound FX Exchange Rate Outlook vs EUR USD AUD: UK Jobs Data Ahead

Modified: Friday, 14 August 2015 07:01 BST - Written by John Cameron

STORY LINK British Pound FX Exchange Rate Outlook vs EUR USD AUD: UK Jobs Data Ahead

UK Jobs Data Sees Pound Sterling Decline

The Pound fell against a number of the majors following the publication of disappointing UK employment data. The slide in unemployment and fall in positions were more severe than anticipated and UK rate hike bets were pushed back accordingly. However, developments in China helped the Pound recover losses against the US Dollar during the afternoon.

Earlier...

Foreign Exchange ALERT: GBP forecast vs EUR USD AUD Today

The news that Greece had reached an ‘in principle’ agreement with its creditors helped the EURO (currency : EUR) record good gains against the other sixteen most actively traded global currencies during yesterday’s session. However, a poor showing from the latest German ZEW Sentiment Survey and the continuing €65bn per month Quantitative Easing programme from the European Central Bank will hinder the shared currency moving forward.

The outlook for the euro remains NEGATIVE and the GBP EUR exchange rate sits at 1.4090.

Pound Sterling Currency Market Outlook and News Now: BoE Interest Rate Comments Support GBP

The POUND STERLING (currency : GBP) was buoyed by comments from Bank of England (BoE) policymaker David Miles yesterday. The MPC man told an interviewer that his decision to vote for a ‘hold’ in UK interest rates, ‘wasn't a compelling clear-cut case one way or the other for me’. These words caused investors to increase their bets on a near-term rate increase from the BoE, meaning that the forecast for Sterling is now NEUTRAL TO POSITIVE.

USD Conversion Rate Supported against GBP, EUR, AUD before US Sales Data

The US DOLLAR (currency : USD) continued to be well-supported in the markets yesterday thanks to the increasing expectation amongst investors that the US Federal Reserve will be hiking its headline interest rate sooner rather than later. The prospect of an American rate increase, perhaps as soon as next month, helped push the Buck forward, but tomorrow’s US Advance Retail Sales data will need to match or beat expectations in order to provide further fuel for the Dollar’s current uptrend.

The outlook for the Greenback is NEUTRAL TO POSITIVE and the GBP USD exchange rate stands at 1.5565.

Australian Dollar Down: AUD VS GBP, USD, EUR Falls on PBoC Announcement

The AUSTRALIAN DOLLAR (currency : AUD) has been hit hard by the announcement from the People’s Bank of China during Tuesday’s Asian session that it was cutting the value of the Yuan by almost 2%. The development spelled bad news for Australian exporters as it will cause an instant increase in the asking price of Australian goods in China’s burgeoning domestic market. However, the Aussie is likely to improve once again as soon as investors re-focus on the Reserve Bank of Australia’s less dovish policy statement of earlier this month.

The Aussie is forecast to trade with a NEUTRAL bias moving forward and the Pound Sterling AUD exchange rate currently stands at 2.1360.

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: Australian Dollar Forecasts Daily Currency Updates Euro Forecasts P Forecasts